Explain the Three Basic Financial Statements and Show How They

question 221

Essay

Explain the three basic financial statements and show how they reflect the activity and financial condition of a business.

---

Definitions:

Absolutely Refractory

The state of an axon in the repolarizing period, during which a new action potential cannot be elicited (with some exceptions) because gate 2 of sodium channels, which are not voltage-activated, are closed.

Relatively Refractory

The state of an axon in the later phase of an action potential, during which higher-intensity electrical current is required to produce another action potential; a phase during which potassium channels are still open.

Periods

In geology, divisions of geological time; in biology, typically refers to the menstrual cycle, a regular natural change that occurs in the reproductive system.

EPSP

Excitatory postsynaptic potential; a temporary increase in postsynaptic membrane potential caused by the flow of positively charged ions into the postsynaptic cell, making it more likely for a neuron to fire.